Founder of failed crypto lending platform Celsius Network arrested on fraud charges

NEW YORK (AP) — The founder and former CEO of the failed cryptocurrency lending platform Celsius Network has been arrested on federal fraud charges alleging that he schemed to defraud customers by misleading them about key aspects of the business. Alexander Mashinsky is charged in an indictment unsealed Thursday in Manhattan federal court with securities, commodities and wire fraud. He is also charged with illegally manipulating the price of Celsius’s proprietary crypto token while secretly selling his own tokens at inflated prices. Mashinsky’s attorney did not immediately respond to a message seeking comment. Celsius filed for bankruptcy last year.